Sources said MLB and Sinclair have had discussions about a joint RSN bidGETTY IMAGES
Disney is expected to accept the first round of binding bids for the 21 RSNs that it is trying to sell within the next four weeks, according to multiple sources. None of the prior bids Disney entertained during this process were binding. But now with the close of Disney’s $71.3B purchase of Fox Entertainment, a 90-day clock to sell the RSNs has started. The fact that it is preparing to accept binding bids should accelerate the sales process, which has to be completed by June 18. Sources said that MLB and Sinclair have had discussions about joining forces on a bid, which could prove to be formidable. MLB is backed by the Canadian Pension Fund; Sinclair had been working on a bid with Apollo Ventures, but those two eventually parted ways. As a way to sweeten its solo offer before the Sinclair talks, MLB had talked with Disney about the possibilities of renewing ESPN’s MLB media rights deal long term and allowing Disney to take a bigger stake in BAMTech. (Disney already owns 75% of that company.) It is still too early to handicap the race, but most sources view Liberty Media, backed by Platinum Equity, as a front runner. Most sources predict that Allen & Co., which is handling the sale for Disney, will see bids well north of $10B.
